Fee Schedule

Fee Schedule

Declining Fee Schedule Based Upon Aggregate Assets Under Management

The first $1,000,000.00 ...................1.00%

The next $1,000,000.00 ..................0.80%

The next $1,000,000.00 .................0.70%

Any aggregate assets above $3,000,000.00 ...0.60%

NOTE: These are annual percentage rates. Fees are billed quarterly, in arrears, based on the market value as of the last day of the calender quarter. The minimum annual fee is $3,000.00 ($750.00 per quarter). These fees are applied to a client's aggregate holdings under our management. Because this is a declining scale, we have provided the following table of effective fees to facilitate a better understanding of how the fees might be applied to your level of assets.